Moscow, Russia - 31 May 2017 - Metalloinvest ("the Company"), a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, today publishes its IFRS interim management statement for the first quarter ended 31 March 2017.
- Revenue USD 1,520mn (+85.1% compared to Q1 2016)
- EBITDA USD 527 mn (2.9 times increase y-o-y)
- EBITDA margin 34.7% vs. 22.4% in Q1 2016
- Net Income USD 391 mn (2.2 times increase y-o-y)
- Net Debt USD 3,434 mn (+8.6% compared to 31 December 2016)
- Net Debt / EBITDA LTM 2.1x vs. 2.5x as of 31 December 2016
- Capital Expenditure USD 62 mn (-32.6% y-o-y)
- Total Assets USD 6,815 mn (+9.9% compared to 31 December 2016)
KEY CORPORATE HIGHLIGHTS
- Long-term steel billets supply contract signed with OMK
- Testing and adjustment of equipment conducted at HBI-3 Plant at LGOK
- Credit rating outlook upgraded to Stable by Standard & Poor's, 'BB' long-term corporate credit rating affirmed
Full press release is available at http://www.metalloinvest.com/en/investors/financial-results/
Metalloinvest is a leading global iron ore and merchant HBI producer and supplier, and one of the regional producers of high-quality steel. The Company has the world's second-largest measured iron ore reserve base and is one of the lowest-cost iron ore producers.
Metalloinvest is wholly owned by USM Holdings. Alisher Usmanov is the major beneficiary of USM Holdings (49%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (10%).
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